Under Massachusetts regulations, the mandatory agency disclosure form provided to consumers must explain which of the following agency relationship options?
Correct Answer
C) Seller agency, buyer agency, dual agency, and designated agency
Under 254 CMR 3.00, the Massachusetts mandatory agency disclosure form must explain all four available agency relationship options: seller agency, buyer agency, dual agency, and designated agency. Massachusetts recognizes all four of these relationships, and the disclosure form must inform consumers of each option so they can make an informed choice.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
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